Nordika acquires a retail and logistic property in Partille, Gothenburg, from German fund manager Corpus Sireo
The property comprises over 17,000 sqm of lettable area and is located in the vicinity of the Partille Port development with a new sports arena. The area is under development with over 16,000 sqm of new residential and circa 7,000 sqm of retail and office.
The shopping mall Allum is also close by, which offers solid communication alternatives to central Gothenburg.
The main tenant, K-Rauta, vacated the property during 2014 due to damages to the floor. The property is thus 70% vacant. Nordika intends to rectify the floor and re-let the property to one or several tenants depending on demand and tenant quality.
Jonas Grandér, Nordika’s CEO comments:
Nordika has taken over a troubled asset, which will require a lot of work before being fully let. However, we feel confident that it is doable given the quality and solid location of the property. This should, in the long term, be a stabilized and institutional asset.
Nordier and Kilpatrick Townsend & Stockton advised Corpus Sireo.
